Geithner to Stay at Treasury Through Jan. 25

Treasury Secretary Timothy Geithner's last day will be Jan. 25, a Treasury official said, marking the end of an eventful and often intense tenure as President Barack Obama's top economic official.

Mr. Obama earlier in the day nominated White House Chief of Staff Jacob Lew to become the 76th U.S. Treasury secretary. Mr. Lew, a budget expert, will inherit unfinished business from Mr. Geithner's tenure—including the next bout with congressional Republicans on raising the federal government's $16.394 trillion debt ceiling.

Mr. Geithner, the last remaining member of Mr. Obama's original economic team, joined the administration in January 2009 after a testy confirmation battle that focused on unpaid taxes. At the time, major financial institutions were teetering, housing and stock markets were in free-fall, the economy was shrinking and employers rapidly shedding jobs.

Read Full Article from Wall Street Journal

- Posted: 2013-01-10 17:39:40

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